Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Direxion Shares ETF Trust (FAZ)

27 + Investors. Track Smart Money conviction in FAZ. See who's accumulating, reducing, or initiating positions.

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↑ +7
Streak
2Q ▲
Buyers last Q
60%

Smart Money Signals — FAZ

Based on 27 hedge funds · latest filing: 2026 Q1 · updated quarterly

📈

Buying streak — 2 quarters in a row

last 6Q
For 2 consecutive quarters, more hedge funds added FAZ than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.
🏔️

At the ownership peak (100% of max)

100% of all-time peak
27 hedge funds hold FAZ right now — the highest count in 3.0 years. When ownership is this concentrated, any bad news can trigger a chain reaction: one big fund sells, others follow. This is a classic 'crowded trade' — high popularity doesn't equal safety.
📶

Steady growth — +4% more funds vs a year ago

fund count last 6Q
+1 new funds entered over the past year (+4% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟢

More buyers than sellers — 60% buying

18 buying12 selling
Last quarter: 18 funds were net buyers (11 opened a brand new position + 7 added to an existing one). Only 12 were sellers (8 trimmed + 4 sold completely). A clear majority buying is a strong confirmation signal.
➡️

Steady new buyers — ~11 new funds per quarter

new funds entering per quarter
Funds opening this position for the first time: 5 → 6 → 8 → 11. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒

59% of holders stayed for 2+ years

■ 59% conviction (2yr+) ■ 19% medium ■ 22% new
16 out of 27 hedge funds have held FAZ for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.
💰

Value +86% but shares only +36% — price-driven

Value
+85%
Shares
+35%
Last quarter: the total dollar value of institutional holdings rose +86%, but actual share count only changed +36%. The gap is explained by the stock's price rising — not new buying. Strong value growth with weak share growth means the rally is price momentum, not fresh institutional demand.
📈

Growing discovery — still being found

10 → 5 → 6 → 8 → 11 new funds/Q
New funds entering each quarter: 5 → 6 → 8 → 11. A growing number of institutions are discovering FAZ each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🏛️

Deep conviction — 73% of holders stayed 2+ years

■ 73% veterans ■ 9% 1-2yr ■ 18% new
Of 33 current holders: 24 (73%) have held for over 2 years without selling. These are not momentum buyers — they have lived through drawdowns and stayed. A large veteran base acts as a stabilizing force during selloffs.
🏆

Elite ownership — 86% AUM from top-100 funds

86% from top-100 AUM funds
11 of 27 holders are among the 100 largest funds by AUM, controlling 86% of total institutional value in FAZ. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
3.6
out of 10
Low Exit Risk
Exit risk score 3.6/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.

Methodology note: these Smart Money cards use consecutive 13F disclosure snapshots, not trade-by-trade execution data. "Buying", "selling", "new holders", and "trimmed" refer to quarter-over-quarter changes in reported holders, aggregate shares, or disclosed position values between filings. They are useful for ownership regime analysis and crowding, but they do not imply exact trade timing on the filing date.

Institutional Sentiment Summary — FAZ

In 2026 Q1, 18 hedge funds were net buyers of FAZ (11 opened a new position, 7 added to an existing one), while 12 reduced or exited (8 trimmed, 4 sold completely) — a 60% buyer ratio, indicating clear institutional accumulation. Net buying has persisted for two consecutive quarters, a positive momentum signal. 86% of total institutional value in FAZ is held by top-100 AUM funds, reflecting elite-tier ownership quality. Net fund flow last quarter: +7 funds (more new holders than closures). Total institutional holders: 27.

Hedge Fund Ownership: FAZ

How many hedge funds hold FAZ — quarterly history vs. share price
Quarterly hedge fund ownership of FAZ vs. share price

Market Analysis: FAZ

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: FAZ

-- --

Institutional ownership data sourced from SEC EDGAR Form 13F-HR filings.

Is It Too Late to Buy Direxion Shares ETF Trust (FAZ) Based on Hedge Fund 13F Filings?

Signal Freshness measures how much FAZ has moved relative to its sector benchmark (SPY) since the 2026 Q1 13F filing. A stock that has barely outrun its sector is still a relatively fresh entry point — the fund's thesis has not yet been priced in by the broader market.

Since Quarter End March 31, 2026 · 78d ago
FAZ
-23.3%
SPY
+15.9%

FAZ outperformed SPY by -39.2% since March 31, 2026.

Since 13F Filing Date May 15, 2026 · 33d ago
FAZ
-15.5%
SPY
+2.0%

Since the filing became public, FAZ outperformed SPY by -17.5% .

Interpretation: The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference. Learn more →

Smart Money Signal ?
Limited Smart Money Interest

No strong consensus or elite conviction detected among institutional holders.

2 top-rated funds 1 high-conviction
Consensus
2.1
/ 10
breadth
×
Elite
1.2
/ 10
conviction
Hedge Fund Positioning: FAZ
27 + Investors

Track Smart Money conviction in FAZ. See who's accumulating, reducing, or initiating positions.

Metric All 13F Filers (2026 Q1) Prior (2025 Q4) Change
Funds Holding 27 20 35.0%
13F Shares 2M 1M 35.93%
Total Value $80M $43M 85.77%
New Positions 11 8 +3
Increased Positions 7 4 +3
Closed Positions 4 7 -3
Reduced Positions 6 6 -
Total Calls 3 5 -40.0%
Total Puts 3 3 -
PUT/CALL Ratio 1.0 0.6 Neutral

Statistics: FAZ

View More

Valuation Measures Data as of: --

Market Cap --
Enterprise Value --
Trailing P/E --
Forward P/E --
PEG Ratio (5yr expected) --
Price/Sales (ttm) --
Price/Book (mrq) --
Enterprise Value/Revenue --
Enterprise Value/EBITDA --
Beta (5Y Monthly) --
Short Ratio (Days to Cover) --
Short % of Float --

Financial Highlights

Profitability
Profit Margin --
Return on Assets (ttm) --
Return on Equity (ttm) --
Income Statement & Cash Flow
Revenue (ttm) --
Net Income Avi to Common (ttm) --
Diluted EPS (ttm) --
Total Cash (mrq) --
Total Debt/Equity (mrq) --
Levered Free Cash Flow (ttm) --

Institutional Holders (2026 Q1)

27 + investors

Explore institutional interest and hedge fund ownership dynamics. Analyze portfolio weights, new positions, and conviction trends in FAZ. Verified SEC 13F-HR filings.

QUARTER:
Top 25 FAZ holders by conviction (% of portfolio weight) — 2026 Q1 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Gunderson Capital Management LLC 2.08% 97,997 $5.0M
2 Two Sigma Securities, LLC 0.08% 14,420 $732K
3 Gts Securities LLC 0.07% 39,938 $2.0M
4 Valtinson Bruner Financial Planning LLC 0.07% 4,800 $244K
5 XTX Topco Ltd 0.02% 17,280 $877K
6 SBI Securities Co., Ltd. 0.01% 3,675 $186K
7 Jump Financial, LLC 0.00% 5,961 $302K
8 Susquehanna International Group, LLP 0.00% 633,600 $32.1M
9 Westend Capital Management, LLC 0.00% 215 $11K
10 Citadel Advisors LLC 0.00% 181,978 $9.2M
11 Squarepoint Ops LLC 0.00% 18,660 $947K
12 Citadel Advisors LLC 0.00% 131,680 $6.7M
13 Citadel Advisors LLC 0.00% 111,210 $5.6M
14 Tower Research Capital LLC (TRC) 0.00% 483 $25K
15 Hrt Financial LP 0.00% 5,001 $253K
16 Group One Trading LLC 0.00% 6,330 $321K
17 Susquehanna International Group, LLP 0.00% 95,400 $4.8M
18 Susquehanna International Group, LLP 0.00% 58,507 $3.0M
19 Simplex Trading, LLC 0.00% 9,383 $476K
20 Jane Street Group, LLC 0.00% 39,450 $2.0M
21 Goldman Sachs Group Inc 0.00% 41,258 $2.1M
22 Jane Street Group, LLC 0.00% 33,540 $1.7M
23 BNP Paribas Financial Markets 0.00% 8,110 $412K
24 Jane Street Group, LLC 0.00% 24,598 $1.2M
25 Allworth Financial LP 0.00% 156 $8K
Investor Ownership
History 		% of Portfolio Prev % Rank Conviction Avg Buy Price 13F Score™ 3Y / 7Y Sell Timing Shares Mkt Value Change Change % Source Quarter Filed

Frequently Asked Questions — Direxion Shares ETF Trust (FAZ)

What does the Smart Money Trend signal show for FAZ?

Buying streak — 2 quarters in a row: For 2 consecutive quarters, more hedge funds added FAZ than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.

What is the institutional breadth score for FAZ?

More buyers than sellers — 60% buying: Last quarter: 18 funds were net buyers (11 opened a brand new position + 7 added to an existing one). Only 12 were sellers (8 trimmed + 4 sold completely). A clear majority buying is a strong confirmation signal.

What is the fund quality score for FAZ holders?

Elite ownership — 86% AUM from top-100 funds: 11 of 27 holders are among the 100 largest funds by AUM, controlling 86% of total institutional value in FAZ. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.

How long have hedge funds held FAZ?

59% of holders stayed for 2+ years: 16 out of 27 hedge funds have held FAZ for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.

Is it too late to buy Direxion Shares ETF Trust (FAZ) following the 2026 Q1 hedge fund 13F filings?

As of today, FAZ has moved -15.5% since the 2026 Q1 13F filing date (May 15, 2026), compared to +2.0% for the SPY sector ETF — an outperformance of -17.5%. Since the quarter end (March 31, 2026), FAZ has gained -23.3% vs +15.9% for SPY. The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference.

Where does this institutional ownership data come from?

All holdings data is sourced from SEC Form 13F filings, which institutional investment managers with over $100 million in assets are required to submit quarterly. Data is parsed directly from SEC EDGAR.

Disclaimer: The information on this page is for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Institutional holdings data is sourced from SEC Form 13F filings and reflects positions as of the filing date. Past performance of any fund or portfolio is not indicative of future results. 13Foresight is not a registered investment adviser. Always conduct your own due diligence before making investment decisions.

Full history →